IndiGo Q4 Results: Airline Records Loss Of INR 2,536 Crore
FY26 was marked by an exceptionally challenging operating environment, which materially impacted our profitability, says Rahul Bhatia, MD, IndiGo
Rahul Bhatia, MD, IndiGo
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InterGlobe Aviation, the parent of IndiGo airline, reported a net loss of INR 2,536 crore for the quarter ended March 31, 2026. The airline reported net profit of INR 3,068 crore in the year-ago period.
“FY26 was marked by an exceptionally challenging operating environment, which materially impacted our profitability. Despite these conditions, the underlying performance of the business remained resilient. During the year, our capacity grew by 9.5 per cent and total income increased by over 6 per cent. Excluding the impact of foreign exchange and exceptional items, IndiGo delivered a profit of INR 75 billion,” said Rahul Bhatia, MD, IndiGo.
The airline’s revenue from operations rose marginally to Rs 22,438 crore in Q4FY26 as compared to Rs 22,152 crore in Q4FY25. “Total income for the quarter ended March 2026 was INR 238,307 million, an increase of 3.2 per cent over the same period last year. For the quarter, our passenger ticket revenues were INR 194,258 million, a decrease of 0.7 per cent and ancillary revenues were INR 23,515 million, an increase of 9.2 per cent compared to the same period last year,” the company said in a statement.
Capacity increased by 3.4 per cent to 43.6 billion ASKs (available seat kilometres), despite disruptions arising from the ongoing conflict in the Middle East. Passengers declined marginally by 1.1 per cent to 31.6 million. Yield decreased by 2.2 per cent and load factor decreased by 1.7 pts to 85.8 per cent, added the company in a filing.
“We continue to maintain a strong balance sheet with substantial liquidity, demonstrating resilience through prolonged periods of volatility. I would like to thank our 123 million customers for placing their trust in us, and our 69,000 dedicated IndiGo team members for their extraordinary professionalism. While the near term remains volatile, we remain firmly focused on disciplined execution, cost efficiency, and long-term value creation,” Bhatia added.
For the year ended March 31, 2026, compared to the year ended March 31, 2025, the airline’s capacity increased by 9.5 per cent to 172.4 billion. Passengers increased by 4.0 per cent to 123.4 million against a seat growth of 5.2 per cent. Yield decreased by 1.7 per cent to INR 5.06 and load factor decreased by 1.6pts to 84.4 per cent. Revenue from operations increased by 5.1 per cent to INR 849,619 million.
In March 2026, three months after operational disruptions at IndiGo crippled India’s aviation sector, Pieter Elbers stepped down as CEO of IndiGo with immediate effect. The airline’s promoter and managing director Rahul Bhatia then took over the company’s management.
IndiGo cancelled more than 5,000 flights in the first half of December 2025 due to a severe crew shortage, especially pilots, as the airline could not implement the revised Flight Duty Time Limitations (FDTL) norms. This action stranded lakhs of passengers at airports across the country, prompting the government to intervene.
Elbers in his resignation letter said his decision was due to personal reasons and described his time at IndiGo as an honor and privilege.
InterGlobe Aviation, the parent of IndiGo airline, reported a net loss of INR 2,536 crore for the quarter ended March 31, 2026. The airline reported net profit of INR 3,068 crore in the year-ago period.
“FY26 was marked by an exceptionally challenging operating environment, which materially impacted our profitability. Despite these conditions, the underlying performance of the business remained resilient. During the year, our capacity grew by 9.5 per cent and total income increased by over 6 per cent. Excluding the impact of foreign exchange and exceptional items, IndiGo delivered a profit of INR 75 billion,” said Rahul Bhatia, MD, IndiGo.
The airline’s revenue from operations rose marginally to Rs 22,438 crore in Q4FY26 as compared to Rs 22,152 crore in Q4FY25. “Total income for the quarter ended March 2026 was INR 238,307 million, an increase of 3.2 per cent over the same period last year. For the quarter, our passenger ticket revenues were INR 194,258 million, a decrease of 0.7 per cent and ancillary revenues were INR 23,515 million, an increase of 9.2 per cent compared to the same period last year,” the company said in a statement.
